Investor Relations

Experienced technical team and robust technology will augment Altair One platform

TROY, Mich., Feb. 16, 2022 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational science and artificial intelligence (AI), acquired Cassini, a next-generation cloud native technology for Industry 4.0. With the acquisition, Altair deepens its expertise and strengthens its ability to offer digital thread solutions via the Altair One cloud platform.

A digital thread provides a 360-degree view of conceptualized product data, streamlines and accelerates new product development, and improves processes, creating a seamless experience between the digital and physical worlds.

"Led by visionary founder and industry veteran in both mechanical and electrical data management solutions, Raghuram Tera, Cassini brings innovative technology and an incredibly talented team to Altair," said James R. Scapa, founder and chief executive officer, Altair. "Upon integration, customers will have a comprehensive view of digital thread activities in the simulation portion of the PLM value chain, creating a differentiated journey and value for design engineers, simulation engineers, production engineers, engineering data scientists, and IT/ HPC administrators."

The ability to manage high fidelity system data of all types across engineering, quality, service, and more is critical to fully unlock the potential of AI-based simulations. Altair One's best-in-class top-down and bottom-up simulation data management capabilities coupled with Cassini's applications and technology will provide a closed loop product verification and validation platform.

"We are proud to have built a world-class unified cloud platform that simplifies and accelerates product development cycles and manages entire product lifecycles from concept to customer," said Raghuram Reddy Tera, Cassini. "Altair is a significant player in the PLM value chain and it's a natural and exciting opportunity for Cassini to join the Altair team."

Cassini is based in Hyderabad, India.

About Altair
Altair is a global leader in computational science and artificial intelligence (AI) that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. For more information, visit https://www.altair.com/.

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SOURCE Altair